Luton-based Monarch airlines face 700 redundancies

[mhm]

Staff at Monarch airlines have agreed to 700 redundancies and pay cuts of up to 30% as part of a deal to save the Luton-based company.

Greybull Capital has bought the airline from the Mantegazza family which has owned it since the 1960s.

More than 90% of unionised staff voted to accept the changes. Two-thirds of the redundancies will be voluntary.

The fleet will be reduced from 42 aircraft to 34, and long-haul and charter flying will end by April.
http://www.bbc.co.uk/news/uk-england-beds-bucks-herts-29796794